200sqm plot in Ialoveni sold for 17 times its estimated value

The local authorities in Ialoveni today auctioned off a 200 square meter plot of land for a price of 649,000 lei, 17 times the starting price of 38,000 lei. Igor Varvariuc, one unsuccessful bidder, complained the outcome was rigged and the price “highly exaggerated”. He insisted that someone was interested in inflating the price and the winner would “most likely” not honor his obligation and would not transfer the money for the plot. Sources within the Ialoveni Mayor's Office admitted the price was exaggerated for a plot located in Ialoveni town. But if the winner gives up the intention of buying it, he will not be able to get back the participation fee, 10% of the start price, and will not be allowed to participate in a repeat auction for this plot. Today the Ialoveni authorities put up 19 plots of land for auction, 11 of which successfully. The total proceeds amount to 2 million lei.